tag:blogger.com,1999:blog-2277215496195926573.post6282924292969351360..comments2024-01-01T07:41:51.347-08:00Comments on RALPHONOMICS: Why should money lenders be backed by taxpayers?Ralph Musgravehttp://www.blogger.com/profile/09443857766263185665noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2277215496195926573.post-29161447099214629252019-01-06T02:21:25.786-08:002019-01-06T02:21:25.786-08:00Yes: it was a particularly clever move by bankster...Yes: it was a particularly clever move by banksters to mix up lending with the payments system. That means that if banks make silly loans and go bust, they can go running to politicians with the story that if they are not rescued with taxpayers' money, the payments system collapses. Politicians and bank regulators fall for it every time.Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-2277215496195926573.post-10544901340360208832019-01-05T01:56:21.515-08:002019-01-05T01:56:21.515-08:00The reasoning behind the state backing bank deposi...The reasoning behind the state backing bank deposits is that it supports the nations payments system,whih is fundamental to the economy. And thus they have to do it.<br /><br />Of course if we take away that problem by doing what you suggest,separating safe accounts from investmnet accounts,then this "payments system" problem magicially disappears.Vincehttps://www.blogger.com/profile/08057936746193286642noreply@blogger.com